M&A
confidence high
sentiment neutral
materiality 0.65
Ondas Inc. (ONDS): M&A transaction — Ondas Holdings acquires 70% controlling interest in 4M Defense Ltd. for $2.4M cash + 801,068 shares
Ondas Inc.
- Acquired 70% of Chirokka Holding Ltd., which holds 100% of 4M Defense Ltd., an Israeli defense tech company.
- Purchase price: $2,400,000 cash and 801,068 shares of ONDS common stock, issued as unregistered securities.
- Lock-up: Itzik Malka cannot sell 480,641 shares for 12 months; thereafter up to 12.5% per quarter until released.
- Entered Registration Rights Agreement with shareholders to register resale of the shares under Rule 424(b)(7).